Breaking News: Central Bank of Turkey keeps interest rate steady at 17 percent

The central bank has kept its one-week repo tender interest rate steady at 17 percent. The statement by the bank said, “Until strong indicators are formed indicating a permanent decline in inflation and price stability, the tight monetary policy stance will be resolutely maintained for a long time.”

Very briefly explained, this decision will contribute to keeping TL in its strong position which it has enjoyed in last few weeks. An increase in Dollar TL rate does not seem to be very likely at all. In fact, some experts say the rate could even try 6.80 level.

Whether this is a good situation for Turkey’s economy is a different story by all means which we will try to explain in our next article.